Updated over 4 years ago on . Most recent reply
Determining a home's value with no available comps
Good Afternoon All,
I am new to REI and I am starting to analyze properties to determine if the asking price is in line with local comps. However, there have been two properties in different cities that are close to me that I have looked into. Each property has zero comps within the past 6-12 months. I have checked the county tax assessor sites and looked on Zillow as well. Additionally, I broadened the scope of my search parameters to maybe get something closer to said properties and still came up with nothing. How can a potential investor be sure that the asking price for the property is appropriate? Would I use the assessed value that the county listed on their website? Or are there other methods that can be used to value a property? Thank you in advance!
-Ronny